Shopify Inc. (NYSE:SHOP) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 85.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 610 shares of the software maker’s stock after selling 3,481 shares during the period. Larson Financial Group LLC’s holdings in Shopify were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Wealth Management Partners LLC lifted its stake in shares of Shopify by 0.9% in the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after acquiring an additional 126 shares during the period. SJS Investment Consulting Inc. lifted its stake in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the period. Pachira Investments Inc. lifted its stake in shares of Shopify by 2.1% in the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after acquiring an additional 146 shares during the period. Baldwin Brothers LLC MA lifted its stake in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the period. Finally, Capital Advisors Inc. OK lifted its stake in Shopify by 1.7% during the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock valued at $723,000 after purchasing an additional 153 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP opened at $70.55 on Friday. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average is $75.48 and its 200-day moving average is $72.38. The firm has a market cap of $90.77 billion, a price-to-earnings ratio of 783.98 and a beta of 2.22. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. Equities analysts expect that Shopify Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SHOP shares. Wells Fargo & Company cut their target price on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Barclays cut their target price on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 14th. StockNews.com raised shares of Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday. Citigroup cut their target price on shares of Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Finally, Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $74.00 to $85.00 in a report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $78.30.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.